Linde Plc (LIN) is overvalued and LyondellBasell Industries NV (LYB) is slightly undervalued.
Against our estimates of intrinsic value, LYB trades at the wider discount: a margin of safety of +14%, against -106% for LIN.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 8.5% (average of 3 methods) values the shares at $225.91; the price of $464.91 is 106% above that value, and 77% of that value comes from beyond year five.
Leak Score 59/100 on 3 of 12 signals
Discounting its cash flows at 6.6% (average of 2 methods) values the shares at $69.16; the price of $59.24 is 14% below that value, and 84% of that value comes from beyond year five.
Leak Score 30/100 on 2 of 12 signals
| Metric | LIN | LYB |
|---|---|---|
| Verdict | Overvalued | Slightly undervalued |
| Price | $464.91 | $59.24 |
| Intrinsic value | $225.91 | $69.16 |
| Margin of safety | -106% | +14% |
| Leak Score | 59/100 (3/12) | 30/100 (2/12) |
| Market cap | $214.3B | $19.1B |
| Revenue growth, 5 years | 4.5% | 1.7% |
| Operating margin | 27.1% | 7.8% |
| Net margin | 20.4% | -1.1% |
| Return on equity | 18.7% | -2.3% |
| Debt to equity | 0.72 | 1.33 |
| P/E | 30.0x | — |
| Forward P/E | 23.7x | 9.5x |
| P/B | 5.5x | 1.8x |
| Dividend yield | 1.4% | 5.3% |